-15.49(-0.98%)

+0.20(+0.32%)

-3.10(-0.24%)

-0.04(-0.25%)

-0.00(-0.01%)

GBP/JPY Technical Analysis 05.24.2013

GBP/JPY Technical Analysis- Prices are testing below support at 154.00, the 14.6% Fibonacci retracement, having completed a Bearish Engulfing candlestick pattern. A break downward on a daily closing basis initially exposes the 23.6% level at 152.30. Near-term resistance is at 156.77, the May 13 high, followed by the underside of a recently broken rising trend line now at 157.10.